Starlink responds to Reliance, says ‘worked closely with regulators, ready to connect India with high-speed internet'
Reliance Industries is in focus.
· LiveMint Companies
Starlink said it was ready to provide high-speed internet in India after five years of work with regulators and industry partners. Its statement followed Musk’s criticism of Ambani over approval delays. Reliance said it welcomed competition and that Jio’s satellite services also awaited clearances.
The analysis
Against that, the stock is -0.3% on the day at ₹1,211.20, and has returned -6.6% over three months. It sits 24% below its 52-week high. The oil & energy sector has moved -3.2% over the same period, so Reliance Industries is running 3.4 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy.
In this story
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